SINGAPORE — Singapore Prime Minister Lee Hsien Loong has warned that the city-state's tight labor market will push wages higher and also spark inflation.
Lee said in his annual May Day message Monday that higher wages will boost business costs, undermine competitiveness and quicken inflation. Lee said Singaporean companies and workers must improve skills to increase productivity and help expand the economy. Full story
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Singapore PM Lee warns fewer foreign workers will spark inflation, slow economic growth - The Washington Post
Raise productivity to raise wages: PM Lee - Yahoo! News Singapore
